On October 25th, 2023, SOFTSWISS released their analysis of the cryptocurrency segment’s growth compared to the broader iGaming industry. The analysis was based on data collected from over 530 brands powered by the software provider, which gave insight into the latest crypto gaming trends.
The iGaming market showed a consistent 36.6% increase in the total wagered amount and a 50% increase in the number of bets in comparison to the first three quarters of 2022.
In the comparative analysis of crypto bets from the first nine months of 2023, the monetary growth showed an impressive 18.7%, while the number of crypto bets rose by 66.4%. The share of crypto in the Total Bets Sum decreased slightly to 28.5%.
The average fiat bet remained stable at around 0.82 euro, while the average crypto bet dropped from 1.56 euro in 2022 to 1.59 euro in Q3 2023 due to the volatility of cryptocurrency rates.
The top 5 most used digital coins in iGaming remained unchanged since the beginning of 2022. Bitcoin witnessed the most significant growth, increasing by 3.9 p.p., while Ethereum experienced a 6.3 p.p. decline in its market share.
Commenting on the analysis, Andrey Starovoitov, Co-CEO at SOFTSWISS, said: “An 18% increase in crypto bet sums may appear very modest when juxtaposed against a more substantial 45% expansion in fiat bets during the first three quarters of 2023. Taking into account the state of crypto in other spheres, such as fundraising, where the third quarter showed its worst results since the end of 2020, the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”
SOFTSWISS remain committed to providing expertise on the relevant trends in iGaming.
